EU funds 2 programs in Egypt by €50M

CAIRO – 15 April 2019: The European Union Ambassador to Egypt Ivan Serkus revealed that two programs are being implemented in Egypt, with funding amounting to €50 million, on governance and development, financing employment, skills and scholarships for students in their fields.

During the opening session of the fifth conference on corporate social responsibility, Serkus explained that in the field of ready-made garments, 400 scholarships have been offered to female students, and 200 students have been employed during the employment forum.

He pointed out that the EU is committed to supporting Egypt and regional companies to enhance competitiveness, with the ultimate aim of creating jobs in Egypt and the region.

Serkus noted that in June 2017, Egypt and the EU agreed to implement a development project until 2020 in the economic field, entrepreneurship, supporting the private sector,small and medium enterprises, training, the legislative environment, improving skills, financing and innovation.

In the area of legislative reform, the European Union supports the Ministry of Trade and Industry in the area of SME policy, Serkus said, adding that Egypt is supported in the development of infrastructure and in international trade and trade agreements.

He also referred that as the European Union ambassador in Egypt, in cooperation with the European Union, he put in place programs designed to finance small and medium enterprises through an efficient energy use.

Serkus noted that the third component of cooperation is to obtain better funding.He added that the union supports small and medium enterprises and a conference will be organized during November for the private sector in the Suez Canal area, on the occasion of Egypt's 100th anniversary, to open the Suez Canal.